Solve for X and Y

[Mark M]

Sorry if this is trivial:

I need to solve the following pricing question within Excel:

We plan to sell:

184 Apples and 736 Oranges for total of quantity 920

The price of an apple should be 2x of an orange.
The total revenue should be $16,105,626 (expensive fruit )

What should the price be per Apple and Orange?

In other words:
184 * Aprice + 736 * Oprice = $16,105,626
Aprice/Oprice = 2

Any help appreciated,
Mark

 

[Rick Rothstein]

This sounds an awful lot like a homework assignment. You should really try
to work this out for yourself... it won't do you any good to find out that I
know how to do it... you need to know how to do it (important for the math
that you will learn after this).

 

[Sean Timmons]

well, seems like you'dkind of have to solve first mathematically, then
formulize it.

Putting number of apples in A1 and number of oranges in B1, total price in
C2, in B2, you'd have

=C2/(B1+(A1*2))

for price of oranges

and A2 would merely be:

=B2*2

for price of apples.

Looking for that?

 

[cm]

184 * 2X + 736 * X = $16,105,626
also written (multiplied out): 368x + 736x = 16,015,626
factor out the x: 1104x = 16,015,626
x = 16,015,626 / 1104 = 14506.91(price of oranges )
price of apples = 14506.91 X 2 = 29013.82

 

[Sean Timmons]

good, but the price was $16,105,626. Either way, guess we should be on
the lookout for more Algebra questions.

 

[cm]

sorry for the transposition.
same concept applies though.

cm

 

[Glenn]

Sorry if this is trivial:

I need to solve the following pricing question within Excel:

We plan to sell:

184 Apples and 736 Oranges for total of quantity 920

The price of an apple should be 2x of an orange.
The total revenue should be $16,105,626 (expensive fruit )

What should the price be per Apple and Orange?

In other words:
184 * Aprice + 736 * Oprice = $16,105,626
Aprice/Oprice = 2

Any help appreciated,
Mark

A1 = 1 (price of an orange)
A2 = A1*2 (price of an apple)
B1 = 736 (number of oranges)
B2 = 184 (number of apples)
C1 = A1*B1+A2*B2

Now use Tools / Goal Seek to...

Set cell: C1
To value: 16,105,626
By changing cell: A1

 

[Sean Timmons]

Surely. Wonder if we get part of his A+ though.

sorry for the transposition.
same concept applies though.

cm

 

[Mark M]

Got it, just tried it and was able to formulize it.

Ratio = Aprice/Oprice

Aprice = Charges / ((Aqty * Ratio) + Oqty) * Ratio
Oprice = Charges / ((Aqty * Ratio) + Oqty)

Ratio = 2

Aprice = $16,105,622 / ((184 * 2) + 736) * 2 = $29,176.86
Oprice = $16,105,622 / ((184 * 2) + 736) = $14,588.43

Thanks again,
Mark

 

[Dana DeLouis]

I need to solve the following pricing question within Excel:

Hi. Here's just one more method within Excel...

Aprice/Oprice = 2

First, make this linear by rewriting as a = 2*O
Then as
a - 2*O = 0
Your second equation is:
184*a + 736*O = 16,105,626

Select two vertical cells, and Array enter the following equation:

=MINVERSE({184, 736; 1, -2})*({16105626, 0})

Or perhaps the more common method of:

=MMULT(MINVERSE({184,736;1,-2}),{16105626;0})

Returning:
29176.86
14588.43


= = = = = = =
HTH :>)
Dana DeLouis